Image Resources NL (ASX:IMA) Operating Income: A$-14.13 Mil (TTM As of Dec. 2025)

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What is Image Resources NL Operating Income?

Image Resources NL ASX:IMA Operating Income is A$-14.13 Mil as of Dec. 2025. The stock has 5 warning signs investors should review.

Image Resources NL's Operating Income for the six months ended in Dec. 2025 was A$16.03 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was A$-14.13 Mil.

Warning Sign:

Image Resources NL had lost money in 67% of the time over the past 3quarters.

Operating Margin % is calculated as Operating Income divided by its Revenue. Image Resources NL's Operating Income for the six months ended in Dec. 2025 was A$16.03 Mil. Image Resources NL's Revenue for the six months ended in Dec. 2025 was A$0.00 Mil. Therefore, Image Resources NL's Operating Margin % for the quarter that ended in Dec. 2025 was %.

Image Resources NL's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Image Resources NL's annualized ROC % for the quarter that ended in Dec. 2025 was 19.65%. Image Resources NL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -89.30%.


Image Resources NL  (ASX:IMA) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Image Resources NL's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=32.05 * ( 1 - 0% )/( (215.131 + 111.083)/ 2 )
=32.05/163.107
=19.65 %

where

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Image Resources NL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-116.874/( ( (170.783 + max(-12.537, 0)) + (90.962 + max(-0.113, 0)) )/ 2 )
=-116.874/( ( 170.783 + 90.962 )/ 2 )
=-116.874/130.8725
=-89.30 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2.629 + 1.396 + 3.745) - (18.875 + 0 + 1.432)
=-12.537

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 9.655 + 7.976) - (16.223 + 0 + 1.521)
=-0.113

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Image Resources NL's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=16.025/0
= %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Image Resources NL Operating Income Related Terms


Image Resources NL Operating Income Historical Data

* Premium members only.

The historical data trend for Image Resources NL's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Image Resources NL Operating Income Chart

Image Resources NL Annual Data
Trend Jun16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 34.92 29.91 6.31 -9.13 -14.13

Image Resources NL Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -4.28 -4.53 -4.60 -30.16 16.03

Image Resources NL Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was A$-14.13 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of A$-14.13 Mil mean?
Image Resources NL (ASX:IMA) has a Operating Income of A$-14.13 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Image Resources NL and its competitors.
Is Image Resources NL's Operating Income too high?
Image Resources NL's current Operating Income is A$-14.13 Mil.
How does Image Resources NL's Operating Income compare to competitors?
Image Resources NL's Operating Income of A$-14.13 Mil can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Metals & Mining company?
A good Operating Income depends on the Metals & Mining industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Image Resources NL and its competitors. Image Resources NL's current Operating Income is A$-14.13 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Image Resources NL stock overvalued right now?
Image Resources NL (ASX:IMA) has a current Operating Income of A$-14.13 Mil. The current Operating Income is A$-14.13 Mil. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Image Resources NL (ASX:IMA), the current Operating Income is A$-14.13 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Image Resources NL Business Description

Other Exchanges I5R:Germany
Address 1-5 Walker Avenue, Level 2, West Perth, Perth, WA, AUS, 6005
Image Resources NL is a mineral sands-focused mining company, currently transitioning from open-cut mining and ore processing operations at its high-grade, zircon-rich Boonanarring project, to the Atlas project, and also holds ownership stakes in the Yandanooka, Bidaminna, and McCalls projects in North Perth Basin. In addition, the company holds two exploration licenses and two prospecting licenses, located southeast of Kalgoorlie, which make up the Erayinia/King Gold Project.